Commercial Property

Two Dublin 11 business parks for sale together or separately

Combined €18m purchase of Finglas industrial portfolios will show net yield of 7.64%

An Post at the Jamestown Business Park

Tue Jan 16 2018 - 17:30

Two substantial industrial portfolios based in Jamestown Business Park and Century Business Park, both in Finglas, Dublin 11, are to be offered for sale through CBRE at €18 million. At that valuation, the investments will show a net initial yield of 7.64 per cent.

The two multi-tenanted parks are based along the N2 corridor and, with easy access to Dublin Airport and the Dublin Port Tunnel, are for sale separately or as a single lot.

CBRE will guide €12.2 million for the extensive Jamestown Park, which includes 15 industrial units and five office suites as well as 4.82 acres of leased yard areas with partially completed industrial units.

The completed buildings extend to more than 34,330sq m (369,529sq ft) and produce rental income of €981,143, with a weighted average lease period to run of 3.8 years.

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The guide price will show an initial yield of 8.87 per cent before putting a value on the site. The six-acre development site has seven blocks divided into 28 units, ranging in size from from 195sq m (2,099sq ft) to 1,744sq m (18,772sq ft).

CBRE is quoting a guide of €5.8 million for Century Business Park, which extends to 11.3 acres. The complex produces a rent of €345,750 from five modern industrial units with an overall floor area of 5,511sq m (59,326sq ft). The investment will show an initial yield of 5.5 per cent.

Colm Luddy and Garrett McClean of CBRE, who are handling the sale, said the investment would appeal to an investor looking to take advantage of the resurgence in the industrial market.

The Finglas properties would provide a significant foothold in one of Dublin’s premier industrial locations.

CBREDublin Port